Fashion Rental Competition Is Increasing


August 9, 2019 – Fortune – Bloomingdale’s this week joined the clothing-for-hire trend, just in time for fall fashion, back-to-school, and college campus shopping, with all the attendant Instagram posts.

As the latest entrant in this increasingly crowded niche, starting in September, My List at Bloomingdale’s will offer women a $149 monthly fashion subscription. Initially, customers get four pieces, with unlimited substitutions.

Other newcomers to the fashion rental market are Urban Outfitters, Anthropologie, and Free People—divisions of URBN brands, which through its Nuuly service in July began offering six-piece rental boxes of vintage-inspired women’s clothing for $88 a month.

Even with such an increasingly crowded field, “To us, subscription models feel very modern,” said Oliver Chen, managing director of retail and luxury for the brokerage firm Cowen. “People are rethinking material things. It’s possessions as a service.”

Still a small retail niche

Rented clothing once meant tuxes and Halloween costumes. Now options abound: There’s fine jewelry (Switch, $29 per month) plus-size fashion (Gwynnie Bee), kids’ wear and sneakers (Walmart, $48, and Nike Adventure Club, $20, respectively), maternity (LeTote, $89, or $79 for non-maternity).

Read more at Fortune.